Where there's a system, there's a way to defraud it
unfortunately this is a terrible article, which seems to xoom in on the work "illegal immigrants" without exactly describing how this particular scheme worked- (see rest of article) did the immigrants actually want to buy houses? -instead of focusing on the incidents of actual blatent fraud- below, that feature selling of property the seller does not even own- the oldest scheme in the book.

Real estate fraud grows in Colorado - Denver - MSNBC.com: "In a major crackdown on mortgage fraud in Colorado, federal and state officials are aggressively prosecuting real estate agents, mortgage brokers and homeowners engaged in a wide range of real estate schemes. "
In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.

The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.

Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.

In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.

The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.

Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.

In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.

The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.

Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.